How to calculate taxes on foreign payments?
If for some reason the bank's rate on that day was higher than the Central Bank's rate (the rarest
case), the "service" received is also taxed. It is easier to follow this point than to deal with
additional calculations.
Do I need a bank account in Ireland to send money to The British Indian Ocean Territory?
Not necessarily. Many international services operating in Ireland offer cash transfers to The British Indian Ocean Territory, so you can send money without a bank account. However, if you’re using online banking or bank-to-bank transfer from Ireland to The British Indian Ocean Territory, an account will be required.
Can I transfer money in another currency?
Yes, most services allow you to transfer money in various currencies.
The exchange rate will be set by the service at the time of the transfer.
Are there limits on how much I can send from Ireland to The British Indian Ocean Territory?
Yes, most providers have limits on international transfers from Ireland to The British Indian Ocean Territory. These limits may depend on the provider, the amount, and your identification level. For example, larger transfers from Ireland to The British Indian Ocean Territory may require identity verification or proof of source of funds.
